Why credit card debt can be bad for your health

While household income has grown during the past decade, it has failed to keep up with the increased cost-of-living over the same period. To bridge the gap, Americans increasingly rely on credit cards , one of the most expensive ways to borrow.

Outstanding card debt has now hit its highest point ever, surpassing $1 trillion in 2017, according to the Federal Reserve.

Yet 86 percent of Americans who have or had credit card debt said they regret it, according to a recent report by NerdWallet. The main regrets are because it took a long time to pay off, resulting in hefty interest expenses and causing unnecessary stress.

Nearly 2 in 5 consumers who have had credit card debt said it affected their general happiness, NerdWallet found. One-third said it negatively affected their standard of living, and 1 in 5 said it negatively impacted their health.